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Kingsgate Consolidated Ltd announces capital raising

Monday, 17 Mar 2014 06:27pm EDT 

Kingsgate Consolidated Ltd:Says it is raising up to A$59.4 mln via a placement of 14.7 mln shares to raise A$14.7 mln (placement) and 3 for 11 accelerated non-renounceable entitlement offer to raise up to A$44.8 mln (entitlement offer).Issue price offered under both placement and entitlement offer will be A$1.00 per new share.The placement and institutional component of entitlement offer are fully underwritten by Morgan Stanley Australia Securities Limited and CIMB Capital Markets (Australia) Limited.Joint Lead Managers are also underwriting the first A$11.1 mln of retail entitlement offer.The proceeds of the Offer will be applied towards repayment of existing corporate debt in accordance with its current repayment schedule.Pre-development expenditure at Nueva Esperanza.Completion of Bowdens Definitive Feasibility Study (DFS) and Environmental Impact Statement (EIS).Working capital and general corporate purposes. 

Company Quote

0.13 +40.63%
9:50pm EST